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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1368550 times)
raiuk
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February 09, 2014, 09:28:03 AM
 #901

Read through the OP, this coin has a great concept!

what happens after 5 weeks. All miners will leave, no one is going fight for 1 mint. How is this supposed to work?

Google for Proof-of-Stake Algorithm. After 5 weeks new coins are generated as a form of interest, no need for miners. The network will be secured even without miners. When holding a certain amount of coins for a certain amount of time in your wallet, new blocks will be generated automatically from it.

the question is who will process SEND transactions.
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sakkosekk
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February 09, 2014, 09:34:18 AM
 #902

Read through the OP, this coin has a great concept!

what happens after 5 weeks. All miners will leave, no one is going fight for 1 mint. How is this supposed to work?

Google for Proof-of-Stake Algorithm. After 5 weeks new coins are generated as a form of interest, no need for miners. The network will be secured even without miners. When holding a certain amount of coins for a certain amount of time in your wallet, new blocks will be generated automatically from it.

the question is who will process SEND transactions.

The miners will process those via PoS. Generating coins is just the incentive to mine, be it PoW or PoS
nequaquamvacui
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February 09, 2014, 09:34:55 AM
 #903

Read through the OP, this coin has a great concept!

what happens after 5 weeks. All miners will leave, no one is going fight for 1 mint. How is this supposed to work?

Google for Proof-of-Stake Algorithm. After 5 weeks new coins are generated as a form of interest, no need for miners. The network will be secured even without miners. When holding a certain amount of coins for a certain amount of time in your wallet, new blocks will be generated automatically from it.

the question is who will process SEND transactions.

I suppose it works similar like with Nextcoin, which is explained here: http://bitcoin.stackexchange.com/questions/20007/how-does-proof-of-stake-mining-work

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In Nextcoin, proof of stake is used. So the "mining" process there is just about holding coins and leaving your computer on. It doesn't involve powerful CPUs.

Each block (every 60 seconds), a random Nextcoin is selected to be the next "miner". There are 1 billion coins so the odds of a single wallet being selected is the number of Nxt in that wallet divided by 1 billion. (Also, it's possible to calculate and agree on who that node is so the transactions need only be sent to that particular wallet.)

If a node with the selected wallet is running, it will collect the transactions, make a block, and send it to the rest of the network and collect the fees. If the computer is turned off, however, then the entire network will have to select a different nextcoin to make the transaction. This time, the unresponsive wallet will be ignored. The network would suffer in that the time to make a block is decreased, but the thought is that people wouldn't leave their computers off if they have a lot of NXT because they're missing out on all the fees that they could have collected.
raiuk
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February 09, 2014, 09:43:25 AM
 #904

I have a question. When I have multiple accounts, would the POS reward be divided among them depending on the amount they hold? Or does it go to the main account "" ?
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February 09, 2014, 09:48:38 AM
 #905

I have a question. When I have multiple accounts, would the POS reward be divided among them depending on the amount they hold? Or does it go to the main account "" ?

By accounts do you mean wallet clients or different receiving addresses in on client?
raiuk
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February 09, 2014, 09:49:51 AM
 #906

I have a question. When I have multiple accounts, would the POS reward be divided among them depending on the amount they hold? Or does it go to the main account "" ?

By accounts do you mean wallet clients or different receiving addresses in on client?

i mean in your wallet you can create accounts. Account can have many receive addresses.
Marsenault
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February 09, 2014, 10:13:57 AM
 #907

These things have got to be worth more than 5 satoshis.  It's way harder to mine than topcoin, and less total coins (isnt it?), not to mention has better features, such as an incentive to actually run the client beyond a period of 3-4 weeks.

We need to be on another ex with this, I'm not moving my holding to that shady little place. And not dropping anything for 5 sat.

Here's the addy it puts it in, or else it gets the hose again...
BTC:16kWLsTvdmJL8R7dw6RqqwsRboAK8e1Dfq
or...
BTC Scrypt!  126yRe5jhtGV2UQfNZQDC1saWUtoSntfF8
sakkosekk
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February 09, 2014, 10:31:00 AM
 #908

I have a question. When I have multiple accounts, would the POS reward be divided among them depending on the amount they hold? Or does it go to the main account "" ?

By accounts do you mean wallet clients or different receiving addresses in on client?

i mean in your wallet you can create accounts. Account can have many receive addresses.

I've never made accounts in my wallets before, can't help you Sad
majorminers
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February 09, 2014, 10:36:03 AM
 #909

I have a question. When I have multiple accounts, would the POS reward be divided among them depending on the amount they hold? Or does it go to the main account "" ?

By accounts do you mean wallet clients or different receiving addresses in on client?

i mean in your wallet you can create accounts. Account can have many receive addresses.

I've never made accounts in my wallets before, can't help you Sad

Click on Receive and then New Address and that should do it.

sakkosekk
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February 09, 2014, 10:43:49 AM
 #910

I have a question. When I have multiple accounts, would the POS reward be divided among them depending on the amount they hold? Or does it go to the main account "" ?

By accounts do you mean wallet clients or different receiving addresses in on client?

i mean in your wallet you can create accounts. Account can have many receive addresses.

I've never made accounts in my wallets before, can't help you Sad

Click on Receive and then New Address and that should do it.

lol, yes I know:P He said he had accounts in his wallet with many receiving addresses in each account. 
brokedummy
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February 09, 2014, 10:48:42 AM
 #911

@mintcointeam. You guys need to pay .25 btc to cryptorush.in so we can have a place to trade mintcoin. Many people are getting scammed on the forum. You premined 1% you know it will pay off. I'm not using that shitty ass exchange that is waiting to get hacked up.
koprobo
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February 09, 2014, 10:54:19 AM
 #912

Anyone who want to buy some mints, I'm trusted seller. Check that topic - https://bitcointalk.org/index.php?topic=452218.msg5033321#msg5033321
Gorbash
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February 09, 2014, 10:54:22 AM
 #913

we need Coinmarket.io and I think they will take us in if we ask nicely  Grin
Lubliana777
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February 09, 2014, 10:56:54 AM
 #914

Mintcoin is now listed on Newaltex (MINT/BTC)

https://www.newaltex.com/exchange/mint_btc
merkin
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February 09, 2014, 11:02:49 AM
 #915

I suddenly can't get into my mint wallet Sad

--------------------------- Microsoft Visual C++ Runtime Library --------------------------- This application has requested the Runtime to terminate it in an unusual way. Please contact the application's support team for more information. --------------------------- OK ---------------------------


:/

any clues?

Taxidermista
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February 09, 2014, 11:05:27 AM
 #916

Read through the OP, this coin has a great concept!

what happens after 5 weeks. All miners will leave, no one is going fight for 1 mint. How is this supposed to work?

Came here for this. Smiley

Usually when the payout decreases the price rises.

Not really.

ScroogeD
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February 09, 2014, 11:07:47 AM
 #917

we need Coinmarket.io and I think they will take us in if we ask nicely  Grin

Coinmarket.io : You can suggest it here https://bitcointalk.org/index.php?topic=422726.1460

BTC & LTC #DOGE #DRK #HUC #VTC
Blacklist #Maxcoin - Amateur Devs with ignorant JP Morgan Keiser
koprobo
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February 09, 2014, 11:19:40 AM
 #918

Mintcoin is now listed on Newaltex (MINT/BTC)

https://www.newaltex.com/exchange/mint_btc


First sell offer added !
raiuk
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February 09, 2014, 11:20:37 AM
 #919

Mintcoin is now listed on Newaltex (MINT/BTC)

https://www.newaltex.com/exchange/mint_btc


im on it   Cheesy
CHMinePeeR
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February 09, 2014, 11:34:37 AM
 #920


just signed up, i will watch and maybe sell some MINT, but not cheap!! Cheesy

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